Tag: inheritance

Inheriting Money After Retirement

Posted on by Kimberly Anne
Inheriting Money After Retirement

Suddenly, you find out, after your grandmother died at age 102, she left $300,000 to you, her only grandchild. You did not know that was coming. Let’s assume you have already figured out your retirement plans and you’ve retired, knowing that you had sufficient money to live comfortably for 30 years if needed. Plus, you have allowed for extra traveling.

Instantaneously, your life has changed. You can buy a bigger house, a fancy car, or that huge motor home you had wanted but decided it’s too expensive for your budget. What shall you do? The first thing you need to do is calm down and look at all your options.

Continue reading “Inheriting Money After Retirement” →

Bequeathing Your Assets – Both Large and Small

Posted on by Kimberly Anne
Old car and quilts

When my grandmother in Minnesota passed away, I didn’t realize that she had marked a small cream and sugar set for me. It was my inheritance from her. Her daughters had been told to give these items to the name on the bottom, in the event of her death. This was the first time someone had set something aside for me to be delivered after they died. I attended her funeral, not realizing that she had marked that for me. In fact, most of the items in her home had been given a label so that, when she died, the item would go to the person she felt would appreciate it the most. I don’t remember it, however, my grandmother remembered me mentioning that I really like that set. So it became mine.

Can you imagine going through everything in your home and putting a post-it-note on each item so that everyone gets something? That would take a lot of time and would it hold up in court if someone protested? Possibly not. However, if it is part of your signed, notarized will, a person trying to challenge your desire would fail.

Continue reading “Bequeathing Your Assets – Both Large and Small” →